Marketing inventory gain for Q4FY25 at Rs5.23bn Bharat Petroleum Corporation (BPCL) reported better-than-expected Q4FY25 results with EBITDA of Rs77.6bn (up 2.4% QoQ, PLe: Rs35.7bn, BBGe: Rs57.9bn). Adj PAT came in at Rs45.5bn (down 2.1% QoQ, PLe: Rs14.1bn, BBGe: Rs25.2bn). The company reported an exceptional item of Rs17.7bn due to impairment loss in its WOS subsidiary BPRL. GRM stood at US$9.2/bbl while GMM as per our calculation came in at Rs5.9/ltr. While GMM on petrol/diesel has risen to...